The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.

The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.

Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.

Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.

There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.

Euro (EUR) in the markets

13-February-19: 2018 was a mixed year for the euro. A 5 percent loss versus the US dollar was offset by a 6 percent gain versus the Australian dollar and small gains against other majors.

Since November, the euro has been remarkably stable against the US dollar, against which it has traded for the most part between $1.125 and $1.15. The euro was quoted towards the low of this range at $1.128 at the time of writing, down 1.5 percent year-to-date.

At the time of writing, euro-pound was 2.5 percent lower on the year at £0.876. Most price action since September has been between £0.865 and £0.91.

The euro is understandably under pressure in early 2019 ahead of Brexit, which more than ever is a source of uncertainty, and on increasing recession risks — Italy slid into recession in February and Germany barely escaped one in the October-December period.

The main euro-supporting factor this year would be an interest rate hike by the ECB, although this is up in the air considering the aforementioned risks.

Forecasts: In February, the head of strategy at BMO Capital Markets predicted a decline in EUR/USD to 1.11 by the end of April. Experts at Natwest predicted a slide in EUR/GBP to £0.85 by mid-year.

The interactive chart below shows the USD to EUR exchange rate for the previous 3 months with rate alerts for days when
the exchange rate moved up or down significantly or for 30 day highs and lows.

Travel, Currency and Money saving tips for Malta

The entire country spans only 196 square miles, making it an easy destination to explore, and, despite being a popular spot for European travelers, Malta still feels like an undiscovered gem.. Malta is packed with historical sites, from the UNESCO-protected ancient temples to the three ancient cities on the harbor. Archeology buffs will enjoy wandering through the Ħal Saflieni Hypogeum, an ancient underground cemetery thought to have been used between 4,000 and 2,500 B.C.

Malta's landscape contrasts rocky stretches of coast that end in dizzying limestone cliffs with sheltered bays that hide gin-clear water and red-gold beaches. The islands' many marinas jostle with boats, and you can take to the water in sky-blue traditional craft, stately yachts or speedboats.

Malta.

Malta and Gozo’s astounding prehistoric sites were constructed by sophisticated-seeming temple builders, who also left miniature figurines and mammoth sculptures of ‘fat ladies’, which have survived millennia and are housed in Malta's fascinating museums. Out in the open, gigantic temples and towers from many different eras stand proud, continuing their endless watch over the sea. The most extraordinary site of all lies underground: Hal Saflieni Hypogeum, a 5000-year-old necropolis carved from the living rock.

What currency is used in Malta?

On 1st January 2008 Malta adopted the euro as its currency. Exchange bureaux at Malta International Airport are open 24 hours a day. International bank cards are accepted and foreign currency is easily exchanged. Banks, Automated Teller Machines (ATMs) and exchange bureaux can be found all over the Islands. The majority of hotels, larger shops and restaurants also accept payment in the main international currencies.

How to get around in Malta?

Local buses are good, especially in the Northern area and from Sliema you will find direct links to Valletta, Mdina, Malta, St Paul's Bay, Mellieha and Cirkewwa for the Gozo ferry. Some buses will get busy, especially at peak times when locals use them for commuting.The public bus service on Malta and Gozo is a good way to get around as buses serve the major tourist areas, go practically everywhere and are inexpensive and efficient.

Valletta Ferry Services operates regular ferries between Valletta's Marsamxett Harbour and Sliema, as well as from near Valletta Waterfront to the Three Cities. There are no train services in Malta.

The white taxi service can pick up passengers from anywhere, except bus-stops. Taxi services from the Malta International Airport and the Seaport Terminal to all localities in Malta are based on a fixed tariff. Official Maltese taxis are white (usually Mercedes, with a taxi sign on top; www.maltataxi.net). To combat regular complaints of overcharging, taxi drivers must by law use the meter to determine the fare (except from the airport and sea port, where there are set fares). Renting a car is a good option if you want to get to the farther reaches of the island. All the road signs are in English and driving is on the left.

Travel tips for Malta.

Gozo may be a third of the size of Malta, but you'll be surprised to learn that there’s plenty to see and do on the island. Tourists often make the mistake of thinking that they can see all of Gozo in one day. Get off the beaten path – walk along the Gozo’s rugged coastline, go for a swim at a secluded beach and explore the island’s picturesque hamlets. Despite its lack of green areas, Malta is still a great place for hiking. The island has a range of easy to challenging walking trails running along the coast and cutting through the countryside.

Any time of year will be beautiful in Malta, and although locals prefer to hop in the sea only during the summer, most visitors will find it warm enough to enjoy year round.

Travel money for Malta

Save money and time by Ordering your Euro online from Travelex, you get better rates and can pick
up the EUR cash locally or even on travel day at the airport.

Another popular option is to
use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate,
but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to
Pay in Euro otherwise you may get much worst exchange rates.

Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.

Malta Trip Checklist

Sending money to Malta

When searching around for information on how to get a good exchange rate when sending money to Malta you need to start with finding out the latest
Euro foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much
you can save (we make that calculation easy here).

Get a better deal for foreign transfers to Malta

When sending money to Malta it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers.
To get a better deal you should follow these 4 simple steps :

Open an account with a BER reviewed FX provider (id docs may be required)

You specify the local or Euro amount you want to transfer

Make a local currency domestic transfer for the requested amount to the provider's bank account in your country

Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Malta.

Use our Send to EUR calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more -
end result is more Euro deposited into the recipient bank account and less margins and fees kept by the banks!

Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated in the US as licensed money transmitters. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.

The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market. The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.
You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
We may receive referral fees in relation to your activity on the BER website however this doesn't affect the exchange rates or fees you are charged.